Terms and Conditions
1.
Neither Sumitomo Mitsui Banking Corporation Singapore Branch (“the Bank’) nor its correspondents, agents or third
party service providers shall be liable for any loss or damage due to (a) errors, delays or defaults of any kind in the
transmission or delivery of messages or instructions by any means; (b) any act, decree, regulation or law of any
relevant government or governmental agency; (c) failure to locate error in identifying the named payee; (d)non-receipt
of funds by the payee’s bank; (e)any interruption, omission, error or delay caused in the transmission of funds; or (f)
any cause whatsoever beyond the control of the Bank, its correspondents or agents.
2.
The Bank shall have the sole discretion in deciding whether or not to accept a request by the applicant for refund or
repurchase of the transferred funds or the draft, as the case may be. If the Bank agrees to repurchase a draft, it shall be
on the condition that the Bank must first receive the draft duly endorsed by the applicant and the repurchase shall be at
the prevailing demand buying rate for the currency in question. All repurchase and shall be made after deducting the
Bank’s cost, charges, expenses, commissions and interest and shall be subject to the Bank being in possession of the
funds, for which the payment instructions are issued, free from any exchange or other restriction.
3.
Where a remittance or transfer is in a currency other than the currency of the country to which the remittance or
transfer is made, payment shall be made in the currency of that country at the buying rate of the Bank or the Bank’s
correspondent or agent, in absence of any other arrangement between the payee and the correspondent or agent.
4.
If the draft is lost, stolen or destroyed, the applicant will provide the Bank with an acceptable bond or indemnity in
favour of the Bank in connection with any request by the applicant for issuance of replacement draft or refund of the
amount of the original draft.
5.
The applicant undertakes to indemnify and to keep the Bank and its correspondents, agents and third party service
providers indemnified against all losses, claims, actions, proceedings, demands, costs and expenses (including legal
fees on a full indemnity basis and any applicable taxes) (“Liabilities’) incurred or sustained by the Bank of whatever
nature and howsoever arising out of or in connection with the Bank acting on any remittance or funds transfer. The
Bank shall not be liable for any Liabilities arising out of or in connection with acting on any remittance or fund
transfer, save where such loss or damage is directly caused by the gross negligence or wilful misconduct of the Bank
or its employees. This indemnity is in addition to and is not to prejudice or be prejudiced by any other indemnity
which has been or may be given by the applicant.
6.
The applicant authorises the Bank to disclose all information (including remitter’s account number, address and other
information) pertaining to the applicant and the above remittance to any third party at the Bank’s discretion for the
purpose of effecting the applicant’s instructions.
7.
The Bank reserves the right to reject any application without assigning any reason.
8.
Any payment of funds shall be subject to the laws and regulations of the country where the payment is to be made.
9.
The Bank is not responsible or liable for any currency restriction or controls or for withholding/delays/losses/fund
rejections caused by or resulting from any act of any government or governmental agency or failure of any clearing
settlement or payment system or failure of any party to comply with any requirements, approvals, or licences relating
to transactions in a currency or for diminution in value or unavailability of funds.
11.
If it is not specified in the application for remittance, fees are to be borne by the applicant.
13.
The Bank reserves the right, without prior notice, to (a) revise all charges from time to time, and (b) add, alter, vary
and modify any or all of these terms and conditions (“Terms and Conditions”) at any time at its discretion.
14.
These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore.
15.
Save for any of the Bank’s correspondents or agents and any person appointed by the Bank or save as expressly
provided in these Terms and Conditions, a person who is not a party to these Terms and Conditions has no right under
the Contracts (Rights of Third Parties) Act of Singapore, to enforce or enjoy the benefit of any term of these Terms
and Conditions. Notwithstanding any term of these Terms and Conditions, the consent of any person who is not a
party to these Terms and Conditions is not required to rescind or vary these Terms and Conditions.
10.
The Bank shall not be liable for any Liabilities the applicant may suffer or incur arising out of delays in connection
with any security processes or additional checks performed by the Bank or any other party for fraud detection anti-
money laundering or combating terrorism financing purposes or for legal or regulatory purposes.
Where the Bank has agreed to accept any instruction or application form other than on the Bank’s prevailing standard
form, the applicant agrees that: (a) the applicant shall not, without the Bank’s prior written consent, make any change
to any agreed instruction or application form; and (b) these Terms and Conditions shall apply to any instruction or
application from the applicant. Processing of any such instruction or application by the Bank shall not be deemed to be
consent to any change to any agreed instruction or application form or these Terms and Conditions.
12.
